By otakuyassine3@gmail.com 
Wellington Management Group LLP boosted its stake in shares of Akebia Therapeutics, Inc. (NASDAQ:AKBA – Free Report) by 24.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 502,127 shares of the biopharmaceutical company’s stock after purchasing an additional 97,409 shares during the period. Wellington Management Group LLP’s holdings in Akebia Therapeutics were worth $954,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Akebia Therapeutics during the third quarter worth about $104,000. FMR LLC boosted its stake in Akebia Therapeutics by 26.0% during the third quarter. FMR LLC now owns 682,038 shares of the biopharmaceutical company’s stock worth $900,000 after buying an additional 140,529 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Akebia Therapeutics by 205.8% in the third quarter. BNP Paribas Financial Markets now owns 46,270 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 31,137 shares during the period. State Street Corp lifted its holdings in shares of Akebia Therapeutics by 24.9% in the 3rd quarter. State Street Corp now owns 3,430,527 shares of the biopharmaceutical company’s stock worth $4,528,000 after acquiring an additional 683,287 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Akebia Therapeutics during the 3rd quarter worth about $58,000. Institutional investors own 33.92% of the company’s stock.
Insider Buying and Selling at Akebia Therapeutics
In other Akebia Therapeutics news, CEO John P. Butler sold 144,250 shares of Akebia Therapeutics stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $2.10, for a total value of $302,925.00. Following the transaction, the chief executive officer now directly owns 2,604,330 shares of the company’s stock, valued at approximately $5,469,093. The trade was a 5.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Steven Keith Burke sold 50,506 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $2.10, for a total value of $106,062.60. Following the sale, the senior vice president now owns 816,234 shares of the company’s stock, valued at approximately $1,714,091.40. This represents a 5.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 280,579 shares of company stock valued at $589,216. 4.10% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several analysts have issued reports on AKBA shares. HC Wainwright reissued a “buy” rating and issued a $7.50 price objective on shares of Akebia Therapeutics in a research note on Friday, April 4th. Piper Sandler upped their price objective on Akebia Therapeutics from $4.00 to $6.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. StockNews.com upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Jefferies Financial Group assumed coverage on shares of Akebia Therapeutics in a report on Tuesday, April 1st. They issued a “buy” rating and a $6.00 price target on the stock.
Get Our Latest Research Report on Akebia Therapeutics
Akebia Therapeutics Stock Up 6.5 %
Shares of NASDAQ:AKBA opened at $1.65 on Monday. The business’s 50 day moving average is $1.96 and its 200 day moving average is $1.87. The stock has a market cap of $389.78 million, a P/E ratio of -7.17 and a beta of 0.87. Akebia Therapeutics, Inc. has a 52-week low of $0.80 and a 52-week high of $2.89.
Akebia Therapeutics (NASDAQ:AKBA – Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The biopharmaceutical company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The firm had revenue of $46.50 million during the quarter, compared to analysts’ expectations of $37.36 million. On average, sell-side analysts anticipate that Akebia Therapeutics, Inc. will post -0.3 EPS for the current fiscal year.
About Akebia Therapeutics
Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for patients with kidney diseases. The company’s lead product investigational product candidate is Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase, which is in Phase III development for the treatment of anemia due to chronic kidney disease (CKD) in dialysis-dependent and non-dialysis dependent patients.
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